Popular articles about bank fraud

Transcripts - Popular articles about bank fraud

1.
Popular Articles About Bank Fraud
BHUBANESWAR
Builder in gramya bank fraud
May 24, 2013 | Debabrata Mohapatra , TNN
BHUBANESWAR: The CBI, probing the alleged fake gold loan scam involving Rs 13.22 crore in
Odisha Gramya Bank here, has found the complicity of a city-based builder in the offence. The
realtor, Ratikant Kanungo, who was on Thursday detained by the CBI for questioning, allegedly
connived with the bank's Dumduma branch manager Kalindi Charan Nayak (now under suspension)
and got the loan sanctioned in favour of five men, reportedly his close associates, who mortgaged
fake gold ornaments to avail the loans.
http://indiatoday.intoday.in/story/banks-lose-rs-2289-crore-in-fraud-cases/1/131090.html
http://www.dnaindia.com/mumbai/1635170/report-private-banks-see-more-fraud-cases-than-public-
ones
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/88BL010713FSL.pdf
http://www.ey.com/Publication/vwLUAssets/Proactive_fraud_monitoring_for_banks_in_India/$FILE/Pr
oactive_fraud_monitoring.pdf
Private banks see more fraud cases than public ones
Monday, Jan 9, 2012, 10:30 IST | Place: Mumbai | Agency: DNA
DNA Investigations Bureau
The public sector banks (PSBs) may have a 75% market share, but the number of banking frauds by private
banks is five times that of PSBs.

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The public sector banks (PSBs) may have a 75% market share, but the number of banking frauds by private
banks is five times that of PSBs.
Information obtained under the Right to Information (RTI) Act from the Reserve Bank of India (RBI), revealed
that while private banks, including foreign banks, have reported about 15,000 cases during 2010-11, PSBs,
comprising 19 nationalised banks, including the State Bank of India and its six associates, recorded 3,700
cases. While PSBs lost approximately Rs2,500 crore, their better equipped counterparts in the private sector
lost Rs1,100 crore.
According to data released by the RBI as on June-end 2011, PSBs accounted for 74.6% of bank deposits while
private sector banks had only 18%, with the rest of the funds lying with regional rural banks and foreign banks.
Interestingly, it is the private banks, including foreign banks, which stand for perfection and are known for
prompt service that appear to be more prone to banking frauds.
During 2010-11, the ICICI and HSBC banks put together have reported 13,067 cases. SBI tops the list of PSBs
with the highest number of fraud cases reported in the current financial year.
SBI reported 784 cases involving Rs298 crore for the year 2010-11, the RTI query revealed.
ICICI Bank alone accounted for almost half of the frauds reported to the RBI. Of the 5,319 cases reported in
the current financial year (till September) by 29 private banks, a whopping 3,304 were from ICICI. Similarly,
in 2010-11, ICICI reported 10,684 of the total 19,845 cases. The second highest numbers of cases were
reported by HSBC at 2,383 for the same period.
With the advent of mobile and internet banking, the number of banking frauds in the country is on the rise as
banks are losing money to the tune of approximately Rs2,500 crore every year. While the figure for 2010-11
was Rs3,500 crore, for the current financial year (till September) it is about Rs1,800 crore.
Further, state-wise list of information on banking frauds shows Maharashtra reporting the highest number of
cases to the RBI.
In the last financial year, banks in the Maharashtra reported 1,179 cases with Rs1,141 crore being lost to such
frauds. Maharashtra is followed by Uttar Pradesh with 385 cases during the same period.